Four AI Infrastructure Giants: Which Bet on GPU Cloud Makes Sense in 2026?
We're comparing four companies racing to build AI data centers—APLD, CRWV, NBIS, and IREN. All are unprofitable or early-stage, all depend on Nvidia, and all are extremely volatile. NBIS just got a $2B Nvidia vote of confidence and has the wildest growth story. CRWV is the biggest revenue-wise but drowning in debt. IREN is the only profitable one but pivoting away from crypto. APLD is the smallest and riskiest. Winner: NBIS—if you can stomach the volatility.
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